SC gives SKS Micro 2 wks to amend affidavit against AP Act

The Supreme Court today directed SKS Microfinance, which has challenged the special act passed by the Andhra Pradesh government to regulate micro-finance institutions in the state, to amend its affidavit.

A bench of Justice Markandey Katju and Justice CK Prasad asked the SKS Microfinance to amend its affidavit within two weeks and the Andhra Pradesh government to file its reply.

"SKS Microfinance is granted permission to amend affidavit within two weeks from today. Four weeks' time, thereafter, is allowed to file reply to the additional affidavit filed by the SKS Microfinance herein," the bench said while listing the matter to September 26.

SKS Microfinance has challenged the special act of the Andhra government to regulate micro-finance institutions in the state after allegations that their high interest rates and strong-arm recovery methods led farmers to commit suicide.

SKS -- the country